December 22, 2016 / 12:30 PM / 3 years ago

Atairos to become Trinet Group's largest shareholder

(Reuters) - Private company Atairos Group Inc said on Thursday it would buy a stake of about 26 percent in human resources services provider Trinet Group Inc (TNET.N) from investment firm General Atlantic LLC, becoming the largest shareholder.

Atairos would buy about 17.7 million of Trinet’s shares at $25 per share, increasing its ownership to about 28 percent, the companies said.

Trinet will not issue new shares and will not receive any proceeds related to the deal.

Atairos is an independent, privately owned company focused on supporting growth-oriented businesses across a wide range of industries.

Reporting by Arunima Banerjee in Bengaluru; Edited by Martina D'Couto

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